Where does Libor live in a bank? Why are banks in Asia not looking at Libor transition seriously? Which bank is racing ahead? It’s been an interesting couple of weeks for Libor transition watchers.
Some of the world’s top companies – also including Roche, GE and others – join Swift’s global payment initiative pilot. But whether other “Swift corporates” will be able to go GPI-active remains to be seen.
Taiwanese SMEs lost an estimated $6.6 billion in TRF (targeted redemption forwards) after the renminbi’s devaluation in 2015. The question now is who will pay back this money?
The unmet demand for trade finance services yawns widely reaching more than $1.6 trillion. The ICC concludes banks alone will not solve this desperate issue.